DOMO Chemicals Completes Major Acquisition

DOMO Chemicals, a producer of high-quality engineering materials for diverse markets, has announced its acquisition of Solvay's Performance Polyamides unit in Europe. The acquisition encompasses Engineering Plastics operations in France and Poland; High-Performance Fibres in France, and Polymer and intermediate processing in France, Spain and Poland. The operation currently employs approximately 1,100 people across France, Spain, Poland, Germany and Italy, comprising manufacturing, sales, technical support, R&D and innovation services. The agreement also includes a joint venture between BASF and DOMO in France for Adipic Acid production. Yves Bonte, Chief Executive Officer of DOMO Chemicals, said: "This acquisition is an important milestone in strengthening DOMO Chemicals' nylon-based engineering materials unit. We aim to be a significant global service provider to our customers in our core markets. This is an important step in implementing our sustainable growth strategy by combining and leveraging the unique technology, development and design capabilities of our combined teams. These areas are transport, electrical, electronics and consumer goods." Bonte continued: "As the final step of the acquisition, we will now begin the process of discovering and integrating the complementary strengths of different teams and capabilities. Our primary focus is to become a unique integrated Polyamide (6 and 6.6) solution provider. To this end, we will continue to serve our customers' needs and meet their requirements."